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The new Dow Chemical strategy has undergone a major shift
DowDuPont filed a statement of registration from the U.
S.
Securities and Exchange Commission (SEC) in September that it plans to spin off its materials business into Dow Chemical Company, known as "New Dow Chemical.
"
The SEC is expected to announce the filing effective in the first quarter of 2019, allowing the spin-off company to separate from DowDuPont
by April 1, 2019.
New Dow Chemical has launched a very different strategy
in terms of capital expenditures than the old Dow Chemical.
It's a lean, focused business, and its capital expenditures will be lower, but the returns will be much
higher.
New Dow Chemical plans capital expenditures at or below depreciation and amortization (D&A) of approximately $2.
8 billion per year, with operating targets for projects
with an internal rate of return (IRR) of more than 13 percent.
The growth rate of the German chemical industry continued to slow down in the third quarter
The German chemical industry association VCI said that after a disappointing second quarter, the trend of the German chemical industry began to gradually improve, but the growth rate of the country's chemical industry continued to slow
in the third quarter.
VCI said that compared to the second quarter, chemical sales revenue decreased by 0.
1% month-on-month, and in the third quarter of this year, German chemical sales revenue increased by 1.
7%
month-on-month.
This was mainly due to a 1.
1% sequential increase in selling prices, rather than an increase in volume, which was driven by higher raw material costs
.
At the same time, German chemical production increased by only 0.
3% in the third quarter, and capacity utilization remained at 85%.
Commenting on the situation in the chemical and pharmaceutical industries, VCI President Hans van Bylen said: "The economic slowdown in Europe and Germany is becoming more and more obvious, and customer demand for chemical products is weakening
.
In addition, the escalation of the trade dispute between the United States and China and the increasing risks such as Brexit are leading to more uncertainty
.
”
The U.
S.
oil and gas chemical industry is confident about the future
A recent survey of executives in the oil, gas and chemical industries conducted by Deloitte found that 72% of executives in the oil, gas and chemical industries are confident in the continued recovery of the industry.
However, executives in the upstream sector are less certain of a sustained recovery than executives
in the midstream, downstream and chemical industries.
John England, a partner in charge of oil, gas and chemicals at Deloitte, said: "The U.
S.
oil and gas upstream, midstream, downstream and chemical industries all show positive sentiment and seem to be in much better shape than they were a year ago, especially the oil and gas downstream and chemical industries
.
The majority of upstream executives surveyed believe life is better; Still, they will be more cautious in their management as they deal with the challenges
of growing pipeline bottlenecks, growing geopolitical tensions, and rising oil prices.
”
Global demand for automotive lubricants will continue to grow
According to a new research report by Frost & Sullivan consulting, global demand for automotive lubricants can continue to grow
even as electric vehicles become more popular.
The reason is that although electric vehicle sales are growing rapidly, global vehicle sales will still be dominated
by internal combustion engine vehicles.
When global sales of electric vehicles, including plug-in hybrids and pure electric vehicles, rise to 20% of all passenger car sales, global demand for automotive engine oil will grow from 15.
5 million tons in 2018 to 22 million tons
, the report said.